Delivery Hero Jumps as Market Bets on Sweetened Takeover Bid (1)

Shares in Delivery Hero SEsurged above a €10 billion ($11.6 billion) takeover offer by Uber Technologies Inc. as investors bet that a higher price will be required to close a deal.

The stock climbed 11% to €37.16 at 2:36 p.m. in Frankfurt, about 13% over Uber’s indicative offer of €33 a share. The shares touched the highest since November 2024 with trading volume 33% above the 20-day average for this time of day.

Uber’s proposal offers no premium to the closing price Thursday, the day before Bloomberg News first reported the talks. That may create an opportunity for rival bids. DoorDash Inc. has expressed ...